ArabFinance: National Drilling Company turned to profitability during the first nine months of 2022, according to the financial statement filed to the Egyptian Exchange (EGX) on November 15th.

The company recorded a net profit after tax of $2.752 million in January-September, compared to a net loss of $1.382 million in the same period a year earlier.

Revenue surged to $11.371 million in the nine months to September 30th from $2.147 million in the year-ago period.

National Drilling is an Egypt-based company engaged in the provision of oil field drilling services. The company provides technical support and services for field drilling operations managing its four land drilling rigs, which are all presently contracted in Libya.

Its scope of services also includes the provision of rigs associated with equipment, selling and storing related machinery, as well as trading in related spare parts.